Octopus TitanVCT PLC Purchase Of Securities By Octopus Investments Nominees Limited

 
TIDMOTV2

Octopus Titan VCT plc

Purchase of securities by Octopus Investments Nominees Limited

Octopus Titan VCT plc ('the Company') announces that Octopus Investments Nominees Limited ('OINL'), part of the Octopus Group, has purchased (the 'Share Purchase') 7,840 shares of 0.1p each in the capital of the Company ("Shares"). The aggregate cost of the Share Purchase was GBP5,099.37. The Share Purchase relates to (i) allotments on 21 December 2023 pursuant to the Company's dividend reinvestment scheme ("DRIS") in respect of holdings in the Company's ISA product, where the apportioned allotments to underlying shareholders will result in fractional entitlements equal to 95 Shares that are to be included in the Share Acquisition, with the shareholders receiving a monetary value in respect of the fractional entitlements and OINL acquiring the Shares pursuant to the Share Acquisition and (ii) 1,261 Shares to be purchased at a price per Share of 66.20p to correct an administrative issue in connection with the Company's allotment of Shares on 21 December 2023 pursuant to the DRIS, with OINL purchasing these Shares to ensure that the shareholder is not disadvantaged as a result of the administrative issue and that the shareholder will receive the same monies as if the shareholder had participated in the relevant dividend payment and not the DRIS and (iii) the purchase of 6,484 Shares at a price per Share of 64.80p from a shareholder who submitted a request to sell the Shares as part of the Company's share buy back on 23 November 2023 (the "November 2023 Buy Back"), but due to an administrative issue was not included in the transaction, with OINL purchasing these Shares to ensure that the shareholder is not disadvantaged as a result of the administrative issue and that the shareholder will receive the same monies as if the shareholder had participated in the November 2023 Buy Back.

Subject to available distributable reserves and cash, and regulations, the Company proposes to purchase, for cancellation, the Shares from OINL in accordance with its share buy back policy, as part of the next buy back expected to be in March 2024, at a price reflecting a discount of up to 5 per cent of the then latest published net asset value per share in accordance with the terms of its stated buy back policy.

Where OINL takes on the risk or benefit of movements in the Company's net asset value ('NAV'), such as in this instance, OINL will always take on any loss arising from a downward movement relative to the price at which the Shares were acquired. Where there is a gain, given the financial risk taken on by OINL in acquiring these Shares, OINL will also take any profit.

These arrangements constitute a smaller related party transaction under Listing Rule 11.1.10R.

For further enquiries, please contact:

Rachel Peat

Octopus Company Secretarial Services Limited

Tel: +44 (0)80 0316 2067

LEI: 213800A67IKGG6PVYW75

(END) Dow Jones Newswires

January 11, 2024 11:00 ET (16:00 GMT)

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